Altius Partners With Westmoreland to Create a New Royalty on CDP Coal Lands
(firmenpresse) - ST. JOHN'S, NEWFOUNDLAND AND LABRADOR -- (Marketwired) -- 07/15/15 -- Altius Minerals Corporation ("Altius") (TSX: ALS) is pleased to announce that it has completed an agreement to transfer certain of its CDP mineral lands in central Alberta to Westmoreland Coal Company ("Westmoreland") in exchange for future production royalties. CDP is a wholly owned subsidiary of Altius Prairie Royalties Corp. and was acquired in May 2014 as part of the acquisition of a portfolio of coal and potash royalties from Sherritt International.
Westmoreland operates the Paintearth and Sheerness mines in central Alberta, Canada which provide thermal coal to the Battle River and Sheerness electrical generating stations, respectively. The subject lands are located in close proximity to current mine permit areas and are known to contain near surface coal resources. The royalty rate remains confidential but is consistent with the inflation adjusted tonnage based rates of existing agreements in Alberta.
Altius CEO Brian Dalton commented, "This agreement represents an important milestone for Altius in that it brings solid potential for the creation of a new production royalty from our extensive portfolio of undeveloped mineral lands and validates the project generation and royalty creation component of our overall growth strategy. Altius maintains other extensive mineral land holdings in western Canada that include coal reserves and resources, several of which have been the subject of advanced project level studies and evaluations and that represent additional future development options."
About Altius
Altius is a diversified mining royalty company with royalty interests in 13 producing mines located in Canada. The royalty interests include mining operations that produce electrical coal, potash, copper, zinc, nickel, metallurgical coal, gold, silver and cobalt.
Altius holds other significant pre-development stage royalties and its project generation pipeline contains a diversified portfolio of exploration stage projects and royalties, many of which are being advanced through various partner-funding arrangements.
Altius has 39,932,102 shares issued and outstanding that are listed on the Toronto Stock Exchange. It is a member of both the S&P/TSX Small Cap and S&P/TSX Global Mining Indices.
Contacts:
Altius Minerals Corporation
Chad Wells
Vice President Corporate Development
Toll Free: 1-877-576-2209
709-576-3441 (FAX)
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Datum: 15.07.2015 - 12:00 Uhr
Sprache: Deutsch
News-ID 406929
Anzahl Zeichen: 1884
contact information:
Town:
ST. JOHN'S, NEWFOUNDLAND AND LABRADOR
Kategorie:
Mining & Metals
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